Baltic Dry Index falls over 2% d-o-d as large vessel segments extend losses

• Capesize records sharpest decline among segments
• Panamax slips, while Supramax gains modestly

The Baltic Dry Index (BDI) declined by 85 points, or 2.4%, to 3,360 on 15 September from 3,445 on 14 September, falling to its lowest level in around two weeks. The decline was primarily driven by continued weakness in Capesize freight rates, while Panamax also edged lower. Supramax, however, gained marginally and provided limited support to the overall index.

Segment-wise performance

• Capesize extends losses: The Baltic Capesize Index (BCI) fell by 225 points, or 3.7%, to 5,687 from 5,912, recording the steepest decline among the three major vessel categories. The sharper correction indicates low demand and weaker market sentiment in the Capesize segment, making it the principal drag on the BDI.
• Panamax slips: The Baltic Panamax Index (BPI) declined by 29 points, or 1.2%, to 2,364 from 2,393. The continued decline points to a cautious Panamax market, with sentiment weakening alongside the broader correction in dry bulk freight rates. However, the smaller fall compared with Capesize indicates relatively lower selling pressure.
• Supramax gains: The Baltic Supramax Index (BSI) increased by 11 points, or 0.6%, to 1,736 from 1,725. The gain indicates comparatively firmer sentiment in the Supramax segment, with the index bucking the broader downward trend. However, the modest increase was insufficient to offset the stronger declines in Capesize and Panamax segments.